Everything You Should Know About Nishad Singh Under Scrutiny For Crypto Exchange FTX Crash

Indian-origin Nishad Singh is currently under the scrutiny for financial practices that led to the collapse of FTX, one of the largest Bahamas based cryptocurrency exchange. Nishad Singh lived with FTX founder along with 9 others, according to IANS report.

He was reportedly under the inner circle of FTX's 30-year old founder, Sam Bankman-Fried.

"Gary Wang (Chief Technology Officer), Nishad and Sam control the code, the exchange's matching engine, and funds," according to a person acquainted with the matter.

According to the IANS report, beleaguered crypto exchange FTX recently admitted that "unauthorised transactions" have drained hundreds of millions of dollars from its wallets, saying the company has moved many digital assets to a new "cold wallet custodian".

FTX, which last week filed for bankruptcy in the US, has yet to divulge how much it lost in unauthorised transactions but reports suggested that the amount could be as high as $600 million.

According to Nishad Singh's LinkedIn profile he attended Crystal Springs Uplands School in California and graduated summa cum laude from the University of California, Berkeley in 2017 with a bachelor's degree in Electrical Engineering and Computer Science, added the IANS report.

Meanwhile, Reuters reported on Friday that former FTX CEO Sam Bankman-Fried had secretly transferred $10 billion of customer funds from FTX to Alameda. Caroline Ellison, CEO of Alameda Research, told employees in a video meeting on Wednesday that she, Sam Bankman-Fried, and two other executives, Nishad Singh and Gary Wang, were aware of the decision to move customer funds to Alameda, the Wall Street Journal said, citing people familiar with the matter.